ITW Files 8-K on Operations & Financial Condition, Euro Notes

Ticker: ITW · Form: 8-K · Filed: Feb 1, 2024 · CIK: 49826

Complexity: simple

Sentiment: neutral

Topics: financial-condition, debt, corporate-filing

TL;DR

**ITW filed an 8-K on Feb 1, 2024, updating on operations and detailing various Euro Notes.**

AI Summary

ILLINOIS TOOL WORKS INC. filed an 8-K on February 1, 2024, to report on its results of operations and financial condition. This filing also includes information about various Euro Notes, such as the 0.250% Euro Notes due 2024 and the 3.00% Euro Notes due 2034, which are traded on the XNYS exchange. This matters to investors because it provides updated financial information and details about the company's debt structure, which can influence its financial health and future performance.

Why It Matters

This filing provides investors with current financial information and details on the company's debt obligations, which are crucial for assessing its financial stability and future growth prospects.

Risk Assessment

Risk Level: low — This 8-K filing is a routine disclosure of financial information and does not indicate any immediate new risks or significant changes.

Analyst Insight

Investors should review the full financial statements and exhibits, once available, to understand the detailed results of operations and financial condition, especially regarding the maturity of the 0.250% Euro Notes due 2024.

Key Numbers

Key Players & Entities

Forward-Looking Statements

FAQ

What is the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing occurred on February 1, 2024, which is also the date of the report.

What specific financial instruments are mentioned in the filing?

The filing specifically mentions several Euro Notes, including 0.250% Euro Notes due 2024, 0.625% Euro Notes due 2027, 2.125% Euro Notes due 2030, 1.00% Euro Notes due 2031, and 3.00% Euro Notes due 2034.

On which exchange are the mentioned securities registered?

The securities, specifically the various Euro Notes, are registered on the XNYS exchange.

What is the primary purpose of this 8-K filing by ILLINOIS TOOL WORKS INC.?

The primary purpose of this 8-K filing is to report on the company's Results of Operations and Financial Condition, as well as to provide information on Financial Statements and Exhibits.

What is the address and phone number of ILLINOIS TOOL WORKS INC. as listed in the filing?

The business address of ILLINOIS TOOL WORKS INC. is 155 Harlem Avenue, Glenview, IL 60025, and their telephone number is 847-724-7500.

Filing Stats: 1,032 words · 4 min read · ~3 pages · Grade level 11.3 · Accepted 2024-02-01 09:19:09

Key Financial Figures

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition On February 1, 2024 , Illinois Tool Works Inc. (the "Company") announced its 2023 fourth quarter results of operations in the press release furnished as Exhibit 99.1. Non-GAAP Financial Measures The Company uses free cash flow to measure cash flow generated by operations that is available for dividends, share repurchases, acquisitions and debt repayment. The Company believes this non-GAAP financial measure, along with free cash flow to net income conversion rate, are useful to investors in evaluating the Company's financial performance and measures the Company's ability to generate cash internally to fund Company initiatives. Free cash flow represents net cash provided by operating activities less additions to plant and equipment. Free cash flow is a measurement that is not the same as net cash flow from operating activities per the statement of cash flows and may not be consistent with similarly titled measures used by other companies. A reconciliation of free cash flow to net cash provided by operating activities is included in the press release furnished as Exhibit 99.1. The Company uses after-tax return on average invested capital ("After-tax ROIC") to measure the effectiveness of its operations' use of invested capital to generate profits. After-tax ROIC is not defined under U.S. generally accepted accounting principles ("GAAP"). After-tax ROIC is a non-GAAP financial measure that the Company believes is a meaningful metric to investors in evaluating the Company's ability to generate returns from cash invested in its operations and may be different than the method used by other companies to calculate After-tax ROIC. The Company defines After-tax ROIC as operating income after taxes divided by average invested capital, which is annualized when presented in interim periods. Operating income after taxes is a non-GAAP measure consisting of net income before interest expense and other income (expense),

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit Number Exhibit Description 99.1 Press Release issued by Illinois Tool Works Inc. dated February 1, 2024 (furnished pursuant to Item 2.02). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. ILLINOIS TOOL WORKS INC. Dated: February 1, 2024 By: /s/ Michael M. Larsen Michael M. Larsen Senior Vice President & Chief Financial Officer

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